TD Asset Management Inc Has $32.03 Million Stock Holdings in Chunghwa Telecom Co., Ltd. (NYSE:CHT)

Key Points

• TD Asset Management Inc reduced its stake in Chunghwa Telecom Co., Ltd. by 30.9%, selling 364,979 shares and holding 816,903 shares worth approximately $32 million at the end of the first quarter.
• Chunghwa Telecom has also increased its annual dividend to $1.6695 per share, representing a yield of 2.9%, up from the previous annual dividend of $1.47.
• Wall Street analysts have dropped Chunghwa Telecom's rating from "buy" to "hold," indicating a more cautious outlook on the stock.

TD Asset Management Inc trimmed its position in Chunghwa Telecom Co., Ltd. (NYSE:CHT - Free Report) by 30.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 816,903 shares of the utilities provider's stock after selling 364,979 shares during the period. TD Asset Management Inc owned 0.11% of Chunghwa Telecom worth $32,031,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. American Century Companies Inc. increased its holdings in Chunghwa Telecom by 15.3% in the fourth quarter. American Century Companies Inc. now owns 255,122 shares of the utilities provider's stock valued at $9,605,000 after purchasing an additional 33,831 shares during the period. Allianz SE acquired a new stake in Chunghwa Telecom in the fourth quarter valued at $1,175,000. Schroder Investment Management Group increased its holdings in Chunghwa Telecom by 2.3% in the fourth quarter. Schroder Investment Management Group now owns 650,358 shares of the utilities provider's stock valued at $24,662,000 after purchasing an additional 14,911 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Chunghwa Telecom by 12.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 100,015 shares of the utilities provider's stock valued at $3,766,000 after purchasing an additional 10,775 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in Chunghwa Telecom by 10.4% during the 4th quarter. Quadrant Capital Group LLC now owns 56,570 shares of the utilities provider's stock worth $2,130,000 after acquiring an additional 5,334 shares during the period. 2.11% of the stock is currently owned by institutional investors.

Chunghwa Telecom Trading Up 0.6%

Chunghwa Telecom stock traded up $0.25 during trading hours on Friday, reaching $43.65. 42,273 shares of the company's stock were exchanged, compared to its average volume of 129,136. The company has a quick ratio of 1.46, a current ratio of 1.63 and a debt-to-equity ratio of 0.06. The firm's 50 day simple moving average is $44.74 and its 200 day simple moving average is $41.40. Chunghwa Telecom Co., Ltd. has a twelve month low of $36.61 and a twelve month high of $47.03. The firm has a market capitalization of $33.86 billion, a PE ratio of 29.29 and a beta of 0.25.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.38 earnings per share for the quarter, hitting analysts' consensus estimates of $0.38. Chunghwa Telecom had a return on equity of 9.63% and a net margin of 16.29%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $56.11 billion. Research analysts predict that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current year.

Chunghwa Telecom Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a $1.6695 dividend. The ex-dividend date is Thursday, July 3rd. This represents a dividend yield of 290.0%. This is a boost from Chunghwa Telecom's previous annual dividend of $1.47. Chunghwa Telecom's dividend payout ratio (DPR) is 87.25%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Chunghwa Telecom from a "buy" rating to a "hold" rating in a report on Monday, April 14th.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd., together with its subsidiaries, provides telecommunication services in Taiwan and internationally. It operates through Consumer Business, Enterprise Business, International Business, and Others segments. The company offers local, domestic long distance, and international long distance fixed-line telephone services; mobile services such as prepaid and postpaid plans; broadband plans; and internet and data services.